what does furniture cost?

What Does Furniture Cost?

PRESENTED BY

Real Estate Broker

Consultants

Architect/Interior Designer Furniture Telecom Contractor

Client

How Much Does Furniture Cost?

There are two ways to approximate costs• Per Square Foot:

– Furniture costs approx$15-$30 per sq. ft.

• Per Person:– Furniture costs approx

$3,000-5,000 per person

Case Studies

Appaloosa Management LP

Corporate relocation to Short Hills, NJ. Bollinger leased 60,000 sq. ft. at the Reckson property at 101 JFK Parkway.

Location:101 JFK ParkwayShort Hills, NJ 07078Rentable sq ft: 60,000

Furniture sell price: $1.3 million

Manufacturers: •Herman Miller•Geiger•Harter•Bright•Bernhardt•Fixtures

Total population of the project:•218 workstations•29 new private offices•7conference rooms

Cost per square foot: $21.66

Cost per person: $5,300

Square footage per employee:243 sq. ft.

BP Castrol renovated their existing Wayne, NJ facility. Systems furniture workstations were provided for 280 people. There were no private offices. 36 conference / group meeting areas were created using systems furniture.

Location:1500 Valley RoadWayne, NJ 07470

Rentable square footage: 55,000 sq. ft.

Furniture sell price: $1.4 million

Manufacturers:•Herman Miller Ethospace

Total population of the project: 280

Cost per square foot: $25.45

Cost per person: $5,000

Square footage per employee:179 sq. ft.

Accenture had a lease that was expiring in Murray Hill along with the closing of a Parsippany location. They were out looking for space to merge the locations without disrupting current consulting projects.

Through the creative use and application of the 120 degree angled Herman Miller Resolve system, we increased the headcount by 33% in the Murray Hill location.

This allowed Accenture to renew the lease (not disrupting projects) and avoid the relocation and merger of two existing locations. This office is now a flag ship "solution center" or sales office for Accenture as the layout and image shows their forward thinking.

Location:5 Spring StreetNew Providence, NJ 07974

Rentable square footage: 24,500

Furniture sell price: $728,695

Manufacturers:•Herman Miller Resolve•Herman Miller Aeron Chairs

Total population of the project: 252

Cost per square foot: $29.74

Cost per person: $2,888

Square footage per employee:97 sq. ft.

Project began with LabVantage considering a fully furnished space. For a multitude of reasons, the project fell through and the client opted to take space in a building where bfi had done a furniture project in the recent past.

With access to a complete set of architectural drawings, bfi was able to maximize existing construction and specify a very economical furniture solution.

“You were so essential to our stepping into our new space within our challenging time line, within our limited budget, and in such an excellent state of readiness.” – Fred DaVeiga, CFO

Location:1160 Route 22 East Bridgewater, NJ 08807

Rentable square footage: 15,701

Furniture sell price: $231,499

Manufacturers:•Herman Miller AO2•National Casegoods (Laminate)

Total population of the project: 69

Cost per square foot: $14.71

Cost per person: $3,355

Square footage per employee:228 sq. ft.

Benjamin Moore was looking to move their 92,000 sq. ft. corporate headquarters within Bergen County. After being an Ethospace user for more than 20 years, Benjamin Moore did not want to settle for any other furniture system.

Although bfi could offer less expensive refurbished product, Herman Miller was able to offer aggressive pricing and warranties that was of a far better value.

Location:101 Paragon DriveMontvale, NJ 07645

Rentable square footage: 92,000

Furniture sell price: $1.3 million

Manufacturers:•Herman Miller Ethospace

Total population of the project: 366

Cost per square foot: $14.13

Cost per person: $3,552

Square footage per employee:251 sq. ft.

Franklin Credit moved from 3 separate locations in NYC

BFI developed detailed documentation of all space requirements

BFI applied space requirements to 3 separate locations in Jersey City allowing client to thoroughly analyze which space worked the best spatially as well as financially.

New space required construction of Reception Area, Board Room, Conference Rooms, Employee Lounge and Training Room, based on design layout and development by BFI.

Overall aesthetic is defined as a clean-lined architectural space with a very light overall feeling.

Location:101 Hudson StreetJersey City, NJ 07302Rentable sq ft: 27,000

Furniture sell price: $900,000

Manufacturers: •Herman Miller Resolve•Herman Miller Passage•Nucraft

Total population of the project: 184

Cost per square foot: $33.33

Cost per person: $4,891

Square footage per employee:147 sq. ft.

Pharmagistics is a rapidly growing sales, marketing, and logistics company, providing integratable sales support, marketing support, sample accountability, third-party logistics, and contract sales services to pharmaceutical, biopharmaceutical, medical device and healthcare companies.

The move to two floors at Cottontail Lane was an expansion housing for 88 people.

Location:1600 Cottontail LaneSomerset, NJ 08873

Rentable sq ft: 19,000 sq. ft.

Furniture sell price for entire job: $302,173

Manufacturers: •Maispace•National•Sit-on-it

Total population of the project: 88 people

Cost per square foot: $15.90

Cost per person: $3,434

Square footage per employee:216 sq. ft.

Relocation of four units of space in an industrial building to a one-story Class A building in Rockaway. The building has been designed with an open floor plan with minimal drywall offices and ancillary space. All drywall has glass fronts to let in the light from outside. The office space has 18' high ceilings with exposed structure, and skylights. The space has a second floor mezzanine overlooking the creative department.

Location:25 Green Pond RoadRockaway, NJ 07866

Rentable square footage: 70,000 sq. ft.

Furniture sell price: $1.6 million

Manufacturers:•Herman Miller Ethospace for Systems Furniture•Geiger Int'l for Executive Management•DarRan for all other Management offices•Herman Miller seating in workstations and private offices•Gunlock guest seating in private offices.

Total population of the project: 284

Cost per square foot: $22.85

Cost per person: $5,633

Square footage per employee:246 sq. ft.

Rhodia gave up a campus setting to consolidate into a single building location that produced significant rent savings.

Rhodia Inc. is the North American unit of Rhodia Group, one of the worlds leading specialty chemical companies.

Location:Cedar Brook Corporate ParkCranbury, NJ 08512

Rentable square footage: 90,000 sq. ft.

Furniture sell price: $1,124,723

Manufacturers:•Pre owned workstations•Office Master Seating•Dar Ran Private Offices

Total population of the project: 444

Cost per square foot: $12.50

Cost per person: $2,533

Square footage per employee:203 sq. ft.

Relocation of the entire USA corporate headquarters to a new building in Woodcliff Lake, NJ for Eisai Inc. The project was for approximately 500 and consisted of over 300 workstations and more than 200 private offices.

Eisai is a human health care company seeking innovative solutions in disease prevention, cure and care for the health and well-being of people worldwide.

Location:Woodcliff Lake, NJ

Rentable sq ft: 208,911

Furniture sell price: $5,284,319.

Manufacturers: • Herman Miller Vivo Workstations• Geiger Private Offices• Geiger Tablet wood casegoods• Herman Miller Aeron desk chairs• Geiger wood guest chairs

Total population of the project: 542• 331 workstations• 211 private offices

Cost per square foot: $25.29

Cost per person: $9,750

Square footage per employee:385 sq. ft.

A long-time leader in green building methods, The National Audubon Society sought PLATINUM LEED™ certification for their new National Headquarters in Manhattan.

The new workspace functions as a model for National Audubon Society's environmental mission to 'protect and restore vital ecosystems, and to ensure the healthy environment for people, wildlife, and the earth's natural resources'.

Location:225 Varick Street7th floorNY, NY 10014

Rentable sq ft: 25,000 sq. ft.

Furniture sell price for entire job: $684,400

Manufacturers: •Herman Miller•Brayton•Bernhardt•Davis•ICF

Total population of the project: 112 people

Cost per square foot: $27.38

Cost per person: $6111

Square footage per employee:223 sq. ft.

The Dalegroup, a large insurance agency, had experienced unprecedented growth, resulting in overcrowded conditions and people working from home. There was simply no space left in the building they occupied and the reality was that they had to double in size. They could not move too far away because much of their work force lived locally. In addition, their ownership wanted a well designed new facility that showcased their success and the quality of their work. This required an architectural design and build out package that far exceeded the building standard offerings typical of the Florham Park area. They also wanted their new furniture to support this high end aesthetic but, still maintain an emphasis on productivity and functionality

Location:30A Vreeland Road Florham Park, NJRentable square footage: 10,400 sq. ft.

Furniture sell price: $367,000

Manufacturers:•Herman Miller Vivo systems•Humanscale seating and computer accessories•First Office middle manager offices•OFS conference rooms•Davis and Nucraft boardroom•HBF and Bernhardt senior level offices and reception casegoods•Neocase mailroom•Great Openings filing and storage towers•Krug and Keilhauer reception seating and tables

Total population of the project: 66

Cost per square foot: $35.29

Cost per person: $5,560

Square footage per employee:157 sq. ft.

Appaloosa Management’s lease was expiring and they wanted to move to a more upscale building in a more prime location. They settled on one of the most premier buildings in the state and wanted a furniture solution that went along with the high end traditional built environment their architect created for them. This was class A space and the furniture had to be the same. Highly functional work stations and private offices had to exude the prestige and permanence this leading hedge fund was looking for. The conference rooms and public spaces exuded success with their unique design details and the furniture for these spaces came from Kittinger, a manufacturer that provides furniture for the White House and the Capital Building.

Appaloosa Management LP

Location:51 JFK Parkway Short Hills, NJ

Rentable square footage: 6,850 sq. ft.

Furniture sell price: $452,000

Manufacturers:•Herman Miller•Geiger•Baker•Cabott Wren•Councill•Humanscale•Neocase•Kittinger

Total population of the project: 80

Appaloosa Management LP

Cost per square foot: $65.98

Cost per person: $5,650

Square footage per employee:86 sq. ft.

Appaloosa Management LP

Diagnostica Stago, Inc. renovated and created a new state-of-the-art Training Center at their US headquarters in Parsippany, NJ. The project included multiple rooms for simultaneous training, as well as a large conference/event room and dining area. Stago also constructed new office space with new workstations to accommodate expansion in the sales, marketing and administrative departments and new conference rooms. The private offices were majority of existing furniture with some fill in where needed.

Location:5 Sylvan WayParsippany, NJ

Rentable square footage: 34,800

Furniture sell price: $429,450

Manufacturers:•Herman Miller • OFS•Zoom Seating•Fixtures Furniture•National Office Furniture•Sit on It

Total population of the project: 102

Cost per square foot: $12.34

Cost per person: $4,210

Square footage per employee:341 sq. ft.

SummaryCost per sq. ft.: Cost per person:

BollingerBP CastrolAccentureLabVantageBenjamin MooreFranklin CreditPharmagisticsParty CityRhodiaEisaiAudubonDale GroupAppaloosaStago

$21.66$25.45$29.74$14.71$14.13$33.33$15.90$22.85$12.50$25.29$27.38$35.29$65.98$12.34

$5,300$5,000$2,888$3,355$3,552$4,891$3,434$5,633$2,533$9,750$6,111$5,560$5,650$4,210

sq. ft. per person: 24317997

22825114721624620338522315786341

SummaryAverage

Cost per square foot: Cost per person: $25 per square foot. $4,848 average

There are two ways to approximate costs• Per Square Foot:

• Furniture costs approx$15-$30 per sq. ft.

• Per Person:• Furniture costs approx

$3,000-5,000 per person

Square footage per person: 214 sq. ft.

Appaloosa Management LP

Detailed Estimate

Giles Communications

Rentable Sq. Ft.: 5,921

No. of Employees: 29

Actual cost: $135,365.

Cost per square foot: $22.80

Cost per person:$4,655.00

Square footage per employee:204 sq. ft.

Giles Communications

Rentable Sq. Ft.: 5,921

No. of Employees: 29

Actual cost: $135,365.

Cost per square foot: $22.80

Cost per person:$4,655.00

Square footage per employee:204 sq. ft.

Giles Communications

Rentable Sq. Ft.: 5,921

No. of Employees: 29

Actual cost: $135,365.

Cost per square foot: $22.80

Cost per person:$4,655.00

Square footage per employee:204 sq. ft.

Conclusion• There are two ways to approximate costs:

– per square foot & per person• Your furniture advisor can quickly and accurately project

your furniture costs.• Early involvement of your furniture advisor can result in

practical and innovative space solutions for your client.

The End

For more information contact us at: 908-355-3400www.bfionline.com